Transient Protection Device Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Transient Protection Device Market is Segmented by Type (AC Transient Protection System and DC Transient Protection System), Applications (Industrial, Commercial, Residential), and Geography.

Market Snapshot

Transient Protection Device Market
Study Period: 2020-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 5.1 %

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Market Overview

The Transient Protection Device market is expected to grow at a CAGR of over 5.1% during 2022-2027. The market's growth can be attributed to the increasing demand for transient protection devices to protect the new, innovative electrical and electronic gadgets installed in homes and offices. The devices' capacity to reduce electricity bills by reducing the power utilized by gadgets is also predicted to play a significant role in the development of the market during the forecast period. The increasing operating costs stemming from power quality issues, alternative energy programs being pursued aggressively worldwide, and frequent equipment failure are some of the other factors contributing to the market growth.

  • The focus of major economies like the United States, China, Japan, India, etc., on developing energy-efficient electrical systems across multiple industrial sectors is adding to the upsurge in demand for transient protection devices. For instance, the Research Designs and Standards Organization (RDSO), a unit of the Indian Railways has developed a center called CAMTECH (Centre for Advanced Maintenance Technology). CAMTECH aims to increase the productivity and performance of all railway assets and workforce by upgrading maintenance technologies and procedures by including lightning and transient protection device arrangements in integrated power supply for signalling installations.
  • In recent years, to achieve carbon neutral environment, the demand for renewable energy has increased, and ensuring the reliability of power grids has become more important. In addition, there is a requirement to enhance the resilience of transmission and substation equipment for large-scale lightning strikes. Resultantly, the demand for transient protection devices is expected to witness an uptick.
  • Additionally, the rising demand for smart power strips is also contributing to boost the market's growth. Customers are in great demand for Wi-Fi-enabled power strips due to their ability to automatically create schedules, timers, and monitor energy usage. Therefore, several businesses are working towards offering Wi-Fi-enabled power strips, to serve as a comprehensive solution to their customers. For instance, APC is offering a smart transient protection WI-FI enabled Power strip with 3 Alexa Smart Plugs, USB Charger Ports, and 2160 Joules of Smart Plug transient Protection.
  • Further, the need for smart home-enabled transient protection devices is predicted to rise with the rise in smart gadget use, smart home technology, and smart city projects. For instance, in October 2021, the US Department of Energy (DOE) announced the allocation of USD 61 million to ten pilot projects that would use new technologies to turn thousands of homes and businesses into advanced, energy-efficient structures. These Connected Communities may communicate with the electrical grid to optimize their energy consumption, lowering carbon emissions and energy prices.
  • However, the challenges in designing compact transient protection devices with enhanced protection levels will likely restrain the market's growth. For example, high functional transient protection devices include numerous components that must be placed in parallel arrays in the circuit. Individual suppression components may have to endure greater energy than the adjacent due to poor mechanical design, and this is causing fluctuations in the performance level between the theoretical model and real devices. 
  • Moreover, the COVID-19 pandemic also has had a negative impact on the Transient Protection Device market's growth by severely impacting the supply for the device production. Further, due to a lack of site access and deficiencies in raw materials, manufacturers of various electronic components, including transient protection devices, faced short-term operational challenges.

Scope of the Report

Transient Protection Devices are used to re-direct the flow of energy during the transients by diverting the extra current or voltage flow from the transient waveform to the intended signal or power waveform. These devices can be connected in both series and parallel to the circuit. The study includes different types of transient protection devices for various applications like Industrial, Commercial, and Residential in multiple geographies. The impact of COVID-19 on the market and affected segments are also covered under the scope of the study. Further, the disruption factors impacting the market's growth in the near future have been covered in the study regarding drivers and restraints.

By Type
AC Transient Protection System
DC Transient Protection System
By End-user Verticals
Industrial
Commercial
Residential
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Key Market Trends

An Increase in the Need for Transient Protection Devices in Smart Cities is Expected to Drive the Market's Growth

  • The Chinese government routinely encourages smart city collaboration as part of the Belt and Road Initiative's Digital Silk Road Initiative. Cooperation within ASEAN is strengthened by the ASEAN-China Strategic Partnership Vision 2030, whereby China has vowed to support ASEAN's initiatives for technological transformation, such as the ASEAN ICT Master Plan 2020 and the ASEAN Smart City Network.
  • Furthermore, various governments in the American region are also boosting the adoption of smart cities. For instance, Las Vegas is testing three pilot projects, with the government allocating USD 500 million to find ways to connect the entire city by 2025.
  • According to Asian Development Bank, about half of the population in the countries making up the Association of Southeast Asian Nations (ASEAN) live in urban areas, and 70 million more people are expected to become urban dwellers by 2025. Hence, the ASEAN Sustainable Urbanization Strategy recognizes technological advancements such as smart city projects and smart buildings as a solution to tackle these urbanization challenges. These initiatives are supported by international investments, which the OECD estimates will total around USD 1.8 trillion for all urban city infrastructure projects between 2010 and 2030. The demand is anticipated to be driven by the investment in digitized infrastructure, which would increase the need for asset security.
  • A broad variety of interconnected automatic systems such as temperature control, multimedia systems, telecommunications, and security systems are used in smart buildings that are particularly sensitive to the effects of thunderstorms and lighting. As a result, any transient that enters the structure, not only through the power supply lines but also through the data lines, might harm a wide range of sensitive electronic equipment, including computers, alarm systems, transducers, PLCs, and audio-visual equipment. Networked components, on the other hand, are particularly vulnerable to lightning strikes and transients in general since they rely on a continual supply of power and data for their continued functioning and availability. 
  • Moreover, failure of equipment in a smart building could bring all interconnected systems to a halt, resulting in the breakdown of buildings and work environments, as well as the related expenses. These all can be eliminated or can be reduced by integrating powerful transient protection devices into the systems. Transient protection devices are also used in power management for smart equipment used in smart buildings.
Transient Protection Device Market

Asia-Pacific is Expected to Witness a Significant Growth

  • The APAC region is witnessing a robust growth in the transient protection devices market owing to the enhanced living standards of the population, rising disposable income, and increasing adoption of smart homes. For instance, according to the Ministry of Statistics and Programme Implementation, Disposable Personal Income in India increased to INR 23,85,73,760 Million in 2021 from INR 19,96,89,740 INR Million in 2020. Furthermore, According to the Statistics Bureau of Japan, Disposable Personal Income in Japan decreased to JPY 359.51 Thousand in May from JPY 436.85 Thousand in April 2022
  • The key element impacting the market for smart homes in the region is the increased desire for energy-efficient lighting and security solutions through the application of smart electronic products, boosting the transient protection device market. For example, in China, the Ministry of Housing and Urban-Rural Development and the Ministry of Public Security jointly released recommendations on speeding the development of digital houses, stating that policies, methods, and standards for digital homes should be in place by the end of 2022.
  • Additionally, the Industry 4.0 initiative is being applied to vehicles and electrical machinery to enable remote data capture, remote diagnostics, and remote maintenance. Such initiatives have augmented the need for data centers, servers, and communication systems. For Instance, China has been growing in data centers with support from governmental authorities. Recently, the Chinese government issued a three-year plan (2021-2023) which calls for 200 exaflops of data center computing by 2023. Furthermore, The government bodies' steps to incentivize hyper-scale data centers are also driving their construction. For instance, in April 2021, the Indian Ministry of Electronics and Information Technology (MeitY) announced that it plans to develop a scheme to incentivize investments in hyper-scale data centers in the country and increase the current capacity over ten-fold in a short period. Rising of Data Centers in the region is indirectly causing the growth of Transient protection devices in the region.
  • In addition, the digital transformation in the region is also driving the market growth. For instance, in May 2022 the Huawei APAC Digital Innovation Congress brought together over 1500 people from over ten nations in APAC to discuss the future of digital innovation and the digital economy. The event is co-hosted by Huawei and the ASEAN Foundation, with government officials, specialists, researchers, partners, and analysts among the attendees. These initiatives in the region show the potential for growth of the transient protection device market in the APAC region.
  • Moreover, the rising of building technology in China is driving the transient protection device market in the region. For instance, in February 2021, Hitachi Building Technology and China Telecom Guangzhou signed an MOU to work cohesively to develop smart building solutions to provide smarter, more efficient, and secure products & services that will provide unified security, energy, and device management services to buildings and complexes in China. With a focus on infrastructure support and optimization, upgrading, and integration of infrastructure.
Global Transient Protection Device Market

Competitive Landscape

The Transient Protection Device market is highly fragmented, as the market is highly competitive and consists of several major players. The competitive rivalry in the market depends on the company’s aggressive strategies in new product development, capacity expansion, mergers and acquisitions, strategic collaborations, partnerships, and agreements, as well as investment in R&D activities.

  • May 2022 - Legrand a manufacturer of transient protection devices opened its first retail shop in India, the Legrand Studio in Hyderabad. This mega retail store would house all of Legrand's India group company's products with the goal of strengthening Legrand's footprints in the country. In addition, Legrand has over 30 interactive product showrooms in India, including Innova, Studio, and Shop-in-Shop formats.
  • March 2022 - ELAC, a well-known high-performance speaker manufacturer announced its plans to enter the equipment protection product area with the Protek line of transient protectors. ELAC set out to create a line of equipment protection devices with more modern features and greater performance levels. App control, Wi-Fi, Bluetooth, and Alexa / Google Assistant compatibility set it apart from much of the competition in the market.

Recent Development

  • March 2021 - Eaton a global player in making transient protection devices acquired Tripp Lite. Tripp Lite is based in Chicago and has evolved into a provider of distributed IT solutions, such as uninterruptible power supply, transient protectors, connection products, networking accessories, and AV equipment. The company has developed various transient protection devices, for example, The PSPD series transient protectors from Eaton are the most up-to-date and advanced UL 1449 3rd Edition certified Transient protection devices on the market. The use of PSPD Series Transient protectors throughout a facility ensures that equipment is secured using the safest and most reliable transient protectors available.
  • February 2021 - Schneider Electric, a significant player in linked and smart home technologies, announced that it is already in four out of ten homes in the United States, protecting them from potential electrical hazards. Schneider Electric is now providing new solutions to builders through the Wiser Energy System and connected wiring devices to assist them to respond to shifting home buyer preferences and changing environmental standards. Whole-home transient protection, EV connectivity, Quick-Connect solar inverter, backup interface module, backup-ready panel, and other smart home technology are included.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Assessment of COVID-19 impact on the industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 The Ongoing Changes That Various Governments Are Making to Their Public Safety Regulations

      2. 5.1.2 An Increase in the Need for Transient Protection Devices in Smart Cities is Expected to Drive the Market's Growth

    2. 5.2 Market Restraints

      1. 5.2.1 Design Challenge to Develop Smaller Size Transient Protection Devices With Enhanced Protection Level

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Type

      1. 6.1.1 AC Transient Protection System

      2. 6.1.2 DC Transient Protection System

    2. 6.2 By End-user Verticals

      1. 6.2.1 Industrial

      2. 6.2.2 Commercial

      3. 6.2.3 Residential

    3. 6.3 By Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 ABB Ltd

      2. 7.1.2 General Electric Company

      3. 7.1.3 Schneider Electric SE

      4. 7.1.4 Eaton Corporation

      5. 7.1.5 Legrand S.A.

      6. 7.1.6 Siemens AG

      7. 7.1.7 Emerson Electric Co.

      8. 7.1.8 CG Power and Industrial Solutions

      9. 7.1.9 Littelfuse

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OUTLOOK OF THE MARKET

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Frequently Asked Questions

The Transient Protection Device Market market is studied from 2020 - 2027.

The Transient Protection Device Market is growing at a CAGR of 5.1% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Eaton Corporation , ABB Ltd., General Electric Company, Schneider Electric SE, Legrand S.A. are the major companies operating in Transient Protection Device Market.

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